Tag: tripwire offer

Hey guys! Zach here again. Today I’m going to be answering a couple of the questions that I got regarding tripwire offers. First off, let’s start by going into what is a tripwire. Well a tripwire or lead magnet (as some call it) is usually something $10 or less.

What is a Tripwire Offer?

So anything under $10 is considered a tripwire or lead magnet offer. The reason being is, that price point is usually easy to say yes to. And you don’t need to build up a lot of reasons of why they should buy it. See just a simple reason usually one is enough. Because people will easily buy things if they see a low price point. Even if it’s something that they’re not too sure about, it’s a small risk so they’re willing to pull out their wallets. Maybe they lose 10 bucks but hopefully they’ll get some awesome value. Especially if you give a guarantee and you simply say hey if you don’t like it we’ll give you your money back.

How Does a Tripwire Offer Work?

What ends up happening is, a lot of people say yes to tripwire offers. Because that initial offer is so good that they can’t pass it up. Usually a lead magnet or tripwire isn’t a large offer. It could be a mini-course or you know 1 or maybe up to 3 modules of a larger course you offer. So the tripwire is actually going to be a segmentation or a piece of one of your main core products. It doesn’t have to be, but I find it’s an easy way to give amazing value and cut down on work.

So you don’t have to recreate anything. It’s just you taking one course that has the foundations, and if they like this then they’re going to love the rest of the course. Which they can unlock for say 30 more dollars and that’s your $37 product or maybe 90 more dollars That’s your $97 product. You’re just simply saying this right here is going to link into all of this you’ll learn in the full course.

It’s really easy for people to say yes to something when they’re able to try you out at a low price point. That’s why it’s called tripwire offer. They first see the offer, then when they see the price they fall over it and it’s very easy for them to say yes. The tripwire offer is where they are they’re make that initial purchase.

How Much Should I Be Spending to Get a Customer?

You can end up spending much more than what you say the actual product front end costs. Deciding if this is profitable or not depends on your average cart value. So what you’ll probably end up doing is breaking even. You’re first time round or you’re probably going to lose a little bit of money on the front-end. That’s okay – it’s completely normal. Remember amateurs focus on the front-end. Professionals focus on the back-end.You want to find out what your average cart value or average customer value is ASAP. You want to make the average cart value or average customer value higher than whatever you’re paying to get them to sign up.

He Who Can Spend More to Get a Customer – Wins!

Personally, I can spend twenty dollars for someone to buy my book as long as I have higher priced up sells or one time offers that occur after the initial purchase has been made. After that, there’s so much more leverage for someone to say yes again. Because #1 – they already said ‘yes’ once and #2 – I already have their credit card information. So now when I ask hey would you like to unlock the rest of this course for $90 and then I offer another closely related up sell. I say “Hey would you like this traffic mastery course or membership program for $27 every month”, ect.

Great, so how does this make me more money?

Now let’s face it less that $10 tripwire probably isn’t going to put a lot of food on the table, right? So that means we need to increase our profit margins with up sells. All of these up sells can end up increasing your average cart value per customer. So you can go on to spend more to acquire more new customers. I don’t suggest using continuity programs as up sells right off the bat. But it’s something you can do. There’s multiple scenarios you can use. You can say “Hey come apply for my coaching program (which is a high value a high ticket offer) or you can offer another one time offer. Do not offer more than 2 up sells! My offers are usually priced between $27 and $1,997 so you know there’s some.

How to Achieve a Break-Even Point

Again, all of these up sells can be offered in different ways that will increase your average cart value. That’s the whole point. In case you’re wondering, even if it costs us $20 to acquire our first customer – that’s perfectly fine. Because that’s an equivalent exchange. Now that I have that tripwire offer, we’re going to build our value ladder out. So the tripwire will do what it is supposed to – break us even with $1 in – $1 out.

So that’s how to achieve your break-even point. Then from here is our mid ticket and our back end. It may be coaching and at the bottom here like I’ve talked about ealier. You want a continuity program somewhere in your value ladder. Whether it’s unlimited or six to twelve months long either way you need a continuity. When you have all of these things setup, then that tripwire that you’ve placed up front will start breaking you even.

Real Life Example of My Own Tripwire Offer

Keep in mind, it costs me $20 to get a customer to buy my book “Sales Funnel Secrets.” On average once they reach the checkout, 15% percent buy and then 18% go on to buy the up sells. So if you can spend $10,000 and as long as you have those numbers properly figured out, you’ll make at least $10,000 back this month. What does that do for you? Well that means that you make nothing. But guess what? You break even. And out of $10,000 spent I probably got somewhere between 200 to 250 buyers. So that’s 250 people that know me, like me, trust me and are willing to buy from me again.

Cut Your Work time in Half with My Sales Funnel Templates

With the use of click funnels I’m going to save you a lot of time. Go to Zach-Miller.com/clickfunnels you can get a lot of my funnels. This is going to help you so you can end up saving that credit card information. Now all they have to do is click one time one time one time and then whether it’s for like my mid ticket like I teach you guys $997 whether it’s the Coaching It’s $25,000 or whether it is the continuity between you know 20 and $200 and that’s a month.

So all of these up sell are just one click and then bam those are purchases instantly made. So you’re getting the upper hand. You don’t have to ask them for their credit card information again it’s so easier to get them to buy more products and it all begins with that tripwire.

Summary of a Tripwire Offer

So I hope I explained to you guys what the tripwire is how it acts, how it builds into your business and where it all fits together. So that you can leverage and build a large customer base. Now two hundred fifty people that like you, know you, trust you and all that they have to do is say yes one time by clicking a button to buy your next product.

And guess what? you send your offer to 250 people to your mid ticket usually a couple days right after they’ve gotten done going through your product. Which again takes about forty eight seventy two hours no matter how big it is and you offer them that next product – that next thing to do. You’re going to take a high percentage of those buyers now and since they already have identified themselves as the people to raise their hand and say take my credit card they’re probably going to do it again as long as you deliver on your promises. With that being said, enjoy! I wish you the best of success and until then bye, bye.

What Is a Tripwire Offer?

Hey, Zach here again and today I’m going to be answering a couple of the questions that I got regarding Tripwire offers.

First off, let’s start off with what is a Tripwire offer. A Tripwire is usually something [sold for] $10 or less.

Anything under $10 is considered a Tripwire offer. The reason being is that that price point that threshold is usually falling in line with something that’s easy to say yes to without building up a lot of reasons of why they should buy it.

See, just a simple reason is you me or who I am, or I’m offering this information it helps these types of people. That’s about as simple as it gets because when people see a low price point, even if it’s something that they’re not too trustworthy about, they’re willing to shill out their credit card and lose 10 bucks. Especially if you give a guarantee and you simply say, “Hey if you don’t like it ask me for your money back.” and that’s all.

“How To” Tripwire

That’s cool too, but what ends up happening is a lot of people say “yes” because that initial offer is so good that they can’t pass it up. And usually a Tripwire isn’t a large course; it’s actually something where most people will probably have somewhere between three and four modules. So let’s just say that you have six modules and you’re doing kind of like a micro Continuity course or something like that.

You know it’s a large [undertaking] to teach whatever you’re going to with JUST the Tripwire . So you’re going to just take one of these [modules] and bring it down [as a Front-End] and then that’s what’s going to be offered for sale [as a Tripwire].

The Tripwire is going to be a segmentation, also known as a Splinter, of one of your main or core products. So again, it’s not you recreating anything, it’s not you redoing or having to edit [materials].

It’s just you taking one course section [or module] and just going, “BOOM! This is the most important thing I’d like you guys to learn and know and if you like this then you’re going to love the rest of my course.” Which you can unlock for say $30 and that’s your $37 product or maybe $90 and that’s your $97 product. You’re just simply saying this right here [the Tripwire] is going to link into all of this over here [the full course].

So it’s a really easy thing to say “yes” to. People get the hang of it. They’re able to say “yes” to a low offer like that, that’s why it’s called [a] Tripwire. They’re looking at the offer, they’re not looking at the price. Then so they fall over. It’s very easy to say “yes” to you with this.

What Happens After a Tripwire?

From the Tripwire what’s going to happen, is they’re making that initial purchase here right. And let’s face it, less than $10 is probably not going to give you a lot of food on the table. What’s probably going to end up doing is breaking you even if you’re lucky or probably losing a little bit of money.

What you want to find out, is what the (ACV), average cart value or average customer value is. And you want to make this [ACV] higher than whatever this number is you end up spending. Because you’ll end up spending much more than what the Front-End costs.

I can spend sometimes twenty dollars for someone [to convert] as long as I have what I consider upsells or [OTOs] One Time Offers that occur after the purchase has been made.

After that fact, then there’s so much more leverage for someone to say “yes” because: A) I already have their credit card information so now when I ask, “Hey would you like to unlock the rest of this course for $90” and then [B)] I offer another upsell and I say, “Hey would you like this membership program for $27 every month?”

The ‘Bigger Picture’ of Tripwire Products

All of these things can end up building up [the ACV]. Now, I don’t suggest continuities right off the bat, but that’s something you can do. There’s multiple scenarios.

You can even say, “Hey come get my coaching.” and that’s a high value or high-ticket offer. Or you can offer another One Time Offer for $27-$37 dollars. Most of my offers are usually between $27 and $1997, so you know there’s some room on price for your offer.

So all of these [products] can be offered in different ways, upsells, downsells, One Time Offers will increase your average cart value [ACV], which is the totality of all these products combined.

And that’s going to give you this number right here. Which again, is ACV. In case you’re wondering, this [cost to acquire a new customer] can end up being $20. Then that’s a perfect equivalent exchange of [ACV to] what it costs to get a customer.

Once I have that Tripwire done, again what are we going to do, we’re building our VALUE LADDER! So the Tripwire-it’s supposed to break us even.

So that’s our breakeven point, right? And then from here [the Tripwire], there is our Mid-Ticket and there’s our Back End. The Back End, which you know may be coaching [or a large service], and at the bottom [of The Value Ladder] like I’ve talked about you want a Continuity Program. Whether it’s unlimited [or never-ending billing] or six to twelve months long. Either way, you need a Continuity Program.

The Value Ladder

When you have all of these things [as a Value Ladder], then that Tripwire that you’ve placed up-front, makes sure that [later] you start breaking even. Let’s say it cost $20 to get a customer to come through and make that first purchase. But on average once I get them [in the sales funnel], 15% buy [my OTO #1] here and then 18% buy [my OTO #2] here.

What we’re trying to do is get that conversion page/squeeze page to increase. That’s something where you’re normally asking [the prospect], “Hey, can you give me your name, your email, etcetera. And then click submit, right here.”

So if your first page that they land on [doesn’t convert well], then you need to be editing this THE MOST. This is the first thing to focus on because this is the first thing they [a prospect] lands on.

This, [your sales page] is the second thing you start optimizing. Why? It’s the second thing they are going to land on. Third, [your OTO #1] and so on and so forth.

The Best Part, Maybe?

And then, once you’ve gotten [your] Tripwire to start breaking even, then you have all of these other things: your Mid-Ticket, your Back End, your Coaching, your Continuity. All of those are going to be pure profits when you start selling to that same list that bought your Tripwire. And guess what? Because you can [break even] for every customer that buys [that Front-End], it’s free to build a [buyer’s] list.

So you can spend $10,000, and as long as you have those numbers properly figured out, then you’ll make $10,000 back this month.

What does that do for you? Well that means that you make nothing, sure. But guess what? Out of $10,000 spent I probably got somewhere between 200 to 250 buyers. Those are 2-250 people that know me, like me, trust me, and are willing to buy from me again.

BONUS! And with the use of ClickFunnels you can save their credit card information. So now all they have to do, is click one time – just one time! One time and whether it’s for your Mid-Ticket for $997. Whether it’s the Coaching that can go as high as $25,000, or whether it is a Continuity Program between $20 and $197 a month. All of these things are just one click away.

Bam! They want anything else, those are purchases instantly made so they just have to have that little threshold broken the first time. Then you don’t have to ask them for their credit card information again. It’s so easy to do all these things, and it all [starts] with that Tripwire.

Conclusion

So I hope I explained to you guys what the Tripwire is, how it acts, how it fits into your business, and where it all fits together [in a Value Ladder] so that you can really leverage and build a large customer base going forward.

Think how those 250 people that like you, know you, trust you, and all that they have to do is say “yes” one-time by clicking one button to buy your next product. And imagine what’ll be like when you send a new offer to these 250 people, like your Mid-Ticket.

[You’ll want to] do this a couple days after they’ve gotten done going through your product. Which takes about 48-72 hours. No matter how big it is, you want to offer them that next thing to do.

Afterwards you’re going to take a high percentage of those people, since they already have identified themselves as buyers. They raised their hands saying, “Take my credit card!” and they’re probably going to do it again. As long as you deliver on your promises. With that being said, enjoy! I wish you the best of success, and until then bye, bye.